Question

Construct a production possibility frontier to illustrate Tom’s earnings potential between the two careers if initially he was not working as a carpenter,

Answer 1

Answer:

In this circumstance, the production possibility frontier is a straight line, which starts at the point (0; 16,000) and closes at the point (20,000; 0) in the event that we accept 5 working days in a week (20 days altogether). For another situation, if conceivable optimal combinations of work in lecturer-ship or in carpentry is represented, the PPF is a bowed out bend/ curve.

Answer 2

Explanation:

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